Fakir Knitwear to invest $45.8m at BSMSN

Fakir Knitwear Limited is set to invest about $45.82 million to set up a knit composite factory at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai, Chattogram.

The company, which has been contributing to the country's garment, logistics and agricultural sectors since 1936, expects to create employment opportunities for about 2,000 people at the unit.

As such, Fakir Knitwear yesterday signed an agreement with the Bangladesh Economic Zone Authority (Beza) for the allotment of 15 acres of land at the BSMSN.

Fakir Mashrikuzzaman, deputy managing director of Fakir Knitwear, and Md Mozibor Rahman, executive member (investment development) of Beza, signed the agreement at the latter's office.

Mashrikuzzaman, said they have experience in setting up some of the most modern facilities in the country.

Besides, Fakir Knitwear has been maintaining its reputation as a green industry both at home and abroad, he added.

Mashrikuzzaman claimed they have already established state-of-the-art manufacturing units with skilled manpower and research and development facilities in various parts of the country, and plan to set up similar industrial units at the BSMSN.

Sheikh Yusuf Haroon, executive chairman of Beza, said Fakir Knitwear is well-known in its respective sector as a developing business with a good reputation in local and international markets.

"Therefore, linking up these investors with Beza will lead to increased investment in the economic zone as well as diversification of products," he added.

Haroon also said that although there are many challenges in providing services to the investors of economic zones, Beza is successfully ensuring water, gas and electricity connections through coordination with related government agencies.

Also, Beza has been working with various development partners to ensure international standards of central effluent treatment plants at the BSMSN, he added.